![](https://decodecapital.com.au/wp-content/uploads/2021/11/Brenna-TA-EN.png)
8th November 2021 Technical Analysis
GBPUSD
GBPUSD fluctuated on Friday, and the technical bias was bearish due to lower lows in the recent downtrend.
![](https://decodecapital.com.au/wp-content/uploads/2021/11/image-4.png)
The pair is currently trading near 1.34897,and multiple resistance levels can be seen above which may prevent the price from rising further.
Resistance level 1: 1.35080
Resistance level 2: 1.35550
Resistance level 3: 1.36000
Below the price, multiple support levels can be seen which may prevent the price from falling.
Support level 1: 1.34500
Support level 2: 1.34100
Support level 3: 1.33800
On Tuesday, the United States will announce PPI data for October. Higher data indicate favourable to the US dollar, so it is negative for the GBPUSD currency pair, and vice versa.
Looking at the current price trend and economic development, it may be a good trading choice to sell the GBPUSD currency pair near the current level.
AUDUSD
AUDUSD fluctuated on Friday, and the technical bias was bearish due to lower lows in the recent downtrend.
![](https://decodecapital.com.au/wp-content/uploads/2021/11/image-3.png)
The pair is currently trading near 0.73962,and multiple resistance levels can be seen above which may prevent the price from rising further.
Resistance level 1: 0.74100
Resistance level 2: 0.74250
Resistance level 3: 0.74500
Below the price, multiple support levels can be seen which may prevent the price from falling.
Support level 1: 0.73780
Support level 2: 0.73580
Support level 3: 0.73350
On Wednesday, Australia will announce Westpac consumer confidence data for November. Higher data indicate favourable to the Australian dollar, so the AUDUSD currency pair is bullish, and vice versa.
Looking at the current price trend and economic development, it may be a good trading choice to sell the AUDUSD currency pair near the current level.